Cargill signs feed partnership with Salmon Evolution
Cargill will supply 100% of Salmon Evolution’s feed volumes for the Norwegian Indre Harøy facility and invested $5 million in Salmon Evolution through a private placement.
Cargill partnered with Salmon Evolution to supply 100% of Salmon Evolution’s feed volumes for the Norwegian Indre Harøy facility which is scheduled to commence production in March 2022. Cargill has further committed to allocate significant resources and R&D capacity to develop sustainable feed solutions tailored to Salmon Evolution’s operational targets.
“Having the best possible feed is essential for every salmon farmer. Particularly, in our HFS system where we create optimal and stable living conditions for the salmon, we see a strong and untapped potential in tailoring a feed focused on maximizing biological performance and product quality,” said Håkon André Berg, CEO of Salmon Evolution. “Given Cargill’s solid reputation and track record as a supplier of high-performance feed solutions, combined with their substantial R&D capabilities and capacities both in Norway and abroad, we are confident that we have found an ideal partner.”
“Cargill works with salmon farmers around the world, providing feed that supports fish welfare and improves farmer productivity and earnings potential while reducing the environmental impact of aquaculture. One of the key areas to realizing the massive potential in land-based salmon farming is having optimal feed tailored to the salmon’s specific living environment, and we’re committed to working with Salmon Evolution to help them realize this potential,” said Fredrik Witte, managing director of Cargill Aqua Nutrition, North Sea.
In connection with the agreement, Cargill will also invest approximately $5 million in Salmon Evolution by way of a private placement of new shares to be issued, with a subscription price of NOK 7.71 per share. The investment will be used for general corporate purposes including evaluation and development of future expansion opportunities, further underpinning Salmon Evolution’s strategy of taking a lead role in the global land-based salmon farming industry.